Deepak fertilizers & petrochemical Corp Ltd

It is involve in chemicals, mining chemicals & fertilizers business.
Market Cap: 8474 crores
P/E 12.6 vs Industry P/E 33.2
ROCE is 25%

Previously ,it demonstrated a perfect example of Cup pattern breakout that achieved its target.

Currently it is on verge of giving breakout in a symmetrical triangle. weekly closing above 680 and RSI weekly closing above 60 should be consider as confirmation of breakout .If it does closes then it should head for 720 and 834. It has the potential to cross it ATH of 1065 in 2024.

The View should be neglected if it breakdown in symmetrical triangle.

This is not a stock Recommendation.
Trade active:
It has failed to cross the major resistance of 680. But still we can hold on to it until it is in the triangle. Let see how the stock behave in coming week.

This is for educational purpose.
Trade active:
Today it has moved more then 6% with good volume and have crossed 680 resistance. Now wait for closing above 725 . After that it should head for 800.

Have patience

This is for educational purpose.
Trade active:
It has fallen a lot . on hourly chart it showing some strength to get back to 545.

This is for educational purpose.


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